KATHMANDU, Jan 24: The Nepal Oil Corporation (NOC) has paid over Rs 13 billion to the Indian Oil Corporation (IOC) for the procurement of crude oil. The NOC, which states that it has no savings left, had no other option but to ask the Nepal government for money to pay the IOC.
KATHMANDU, Sept 16: The price of refined oil has gone up in Nepal due to the rise in the price of crude oil in the international market owing to COVID-19, according to Nepal Vegetable Ghee & Oil Manufacturers' Association.
BRUSSELS, Sept 26: Crude oil prices have jumped to the highest level since November 2014 as key producers like Russia and OPEC are not increasing production, while Iran will soon be hit by US sanctions on its energy industry.
SINGAPORE, Sept 25: India’s crude oil demand is forecast to grow to 500 million tonnes per year by 2040, but persistent increase in oil prices might act as a dampener for the rate of growth, Partha Ghosh, an executive director at Indian Oil Corp said on Tuesday.
JAPAN, Sept 3: Japan's major oil companies are preparing to halt all of the crude oil imports from Iran in October due to fears Washington will sanction countries importing Iranian crude, AFP reported Monday, citing Jiji Press agency.